GoDaddy Inc. $GDDY Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 86.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,694 shares of the technology company’s stock after selling 41,211 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in GoDaddy were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC bought a new position in GoDaddy during the 4th quarter valued at $25,000. Activest Wealth Management raised its stake in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy in the 4th quarter worth $25,000. Brown Brothers Harriman & Co. lifted its holdings in shares of GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after buying an additional 150 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after buying an additional 170 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $96.45 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.84 and a beta of 0.89. The stock’s fifty day simple moving average is $86.13 and its 200 day simple moving average is $89.10. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $167.09.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $1.51 earnings per share. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GoDaddy Inc. will post 7.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of a number of research analyst reports. Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Wells Fargo & Company upped their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. UBS Group began coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Insider Buying and Selling

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the sale, the director owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock worth $1,480,228 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.